The State of DApps Today: DeFi, Gaming, And A Booming NFT Industry

Decentralized applications, or DApps, provide users with direct access to products and services built on blockchain technology. Several vital categories have sprung up in recent years, bringing more people into the crypto and blockchain fold. While Gaming and DeFi are hot topics, there is tremendous potential for non-fungible tokens (NFTs). 

The Top Categories For DApps

Aggregator websites like DAppRadar make it more straightforward for users to explore decentralized applications. As dozens of blockchains compete for traction on this front, it is crucial to have a handy overview. Ethereum and BNB Chain compete with Algorand, Fantom, Moonbeam, Telos, and others. However, there are essential trends and popular categories across all blockchains today. 

Decentralized finance, or DeFi, remains one of the most prominent aspects of DApps today. Every protocol providing exposure to alternative financial products and services is a DApp for users to interface with. There are no intermediaries preventing users from accessing certain features, offering a platform to enhance global financial inclusion. Moreover, DeFi has some attractive money-making opportunities. 

A second core segment is gaming, or more specifically, blockchain gaming. The play-to-earn model attracts much attention, which enables users to make money from playing games. While not all games are free-to-play, the concept has gotten much attention, courtesy of Splinterlands, Axie Infinity, and Alien Worlds, among other projects. 

The third industry vertical with significant future potential is non-fungible tokens or NFTs. Many people conceived NFTs as collectibles or digital art, but the concept of tokenization has much broader implications. Moreover, NFTs are making inroads in blockchain gaming – in-game assets are tokenized to grant true ownership – and decentralized finance – as collateral for loans or staking purposes. 

DAppradar NFT Whales Hint At Future Opportunities

A recent DAppradar analysis of how NFT whales diversify their portfolio and approach the market provides some interesting insights. While one of the whales intends to pursue profit, the other two take a very different approach. Managing a multi-million dollar portfolio consisting of pixels is never straightforward. Interestingly, their approaches differ on many fronts but also share some curious similarities.

The first weeks of 2021 have shown a growing interest in non-fungible tokens. Trading volume across all popular marketplaces – OpenSea, Atomic Market, LooksRare, and others – keeps rising, confirming more liquidity in circulation. In addition, collections like Meebits, CryptoPunks, Dotdotdots, Bored Ape Yacht Club, and Art Blocks have all surpassed $1 billion in total volume. 

Moreover, the NFT whales show a shared interest in the Metaverse. Although this virtual ecosystem does not exist yet, many are hopeful about the opportunities and interconnectedness of DApps. Different projects and environments will be accessible, featuring DeFi capabilities and access to gaming experiences. Moreover, Metaverse access will hinge on NFT ownership, as non-fungible tokens for different collections may unlock particular benefits, perks, rewards, and more.

The Metaverse exposure by NFT whales does not just apply to specific collections. They acquire land plots, avatar-related tokens, and more. It is now up to individual DApps to shape an experience where these elements will create an engaging experience for both novices and advanced individuals. 

Crossing Over Into The Real World

One core aspect of non-fungible tokens is how they blur the line between the virtual and real world. That becomes even more apparent where initiatives like Paris NFT Day are considered. The event is organized by the Paris Blockchain Week Summit team and will occur on April 12, 2022, at Palais Brongniart, Paris. It marks the first global non-fungible token event in France’s capital and will feature numerous speakers.

To highlight the potential of non-fungible tokens, tickets to attend the event are issued as NFTs. Users can find this non-fungible token in their OpenSea wallet after purchase or see it in their mobile MetaMask application. The Ticket provides access to the physical and digital event, cocktails and lunch, and an exclusive digital NFT gift bag. Other benefits include

• 15% discount on Paris NFT Day 2022 tickets
• Free merchandise distributed at the entrance
• Free print of your NFT ticket
• Dedicated entrance and fast pass access for NFT Ticket holders

Real-world events like Paris NFT Day can bring more attention to non-fungible tokens. However, even though NFTs are digital, some people will prefer a hands-on approach with this technology to better grasp the concept. Moreover, the event paves the way for introducing more people to Web3 and its impact on access to and interaction with DApps on the blockchain.